Monday, September 18, 2017 8:40:18 AM
TLOG is getting the following based upon Remetinostat's progression and it looks like it's on to phase 3 with FDA approval. HUGE!
The Company will be entitled to 5% of annual net sales from $0 to $500,000,000;
The Company will be entitled to 7.5% of annual net sales from $500,000,000 to $1,000,000,000;
The Company will be entitled to 10% of annual net sales above $1,000,000,000 .
Medivir has agreed to pay Tetralogic $12 million upfront, up to $20 million tied to remetinostat achieving development milestones through regulatory filings; up to $45 million tied to remetinostat winning regulatory approval milestones; and up to $31 million tied to achieving additional commercialization milestones, primarily related to sales. Medivir has also agreed to pay tiered royalties capped at an aggregate of 13% on remetinostat sales.
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